• Term Loan.

• For any Personal need.

• Minimum: Rs. 50000.00
  Maximum: For permanent employees of Govt, PSUs, Institutions and Autonomous Bodies of Govt maintaining salary account with J&K Bank: 42 X Monthly Gross Salary
  For employees of Govt not maintaining salary account with J&K Bank: 24 X Monthly Gross Salary or Rs 15.00 lacs, whichever is lower.
  For employees of other reputed institutions/ Corporate Houses maintaining salary account with J&K Bank: 30 X Monthly Gross Salary or Rs 25.00 lacs, whichever is lower

1. Permanent Employees of
   • Government (State/Central/ Union Territories).
   • Public Sector Undertakings,
   • Autonomous Bodies & Institutions of Government
   • Govt. Employees (J&K and Ladakh only) recruited under SRO 202 with minimum service of 18 months. Note: Employees of State Govt/Central Govt/ UT Govt, PSUs, Autonomous Bodies & Institutions of Government not maintaining salary account with J&K Bank shall also be eligible.
2. Permanent Employees of Reputed Institutions banking with J&K Bank. Only those regular/ permanent employees shall be eligible who are maintaining their salary accounts with J&K Bank and/or will shift existing salary accounts to J&K Bank with at least one salary received in that account.
3. Permanent Employees of Corporate Houses banking with J&K Bank. Only those regular/ permanent employees shall be eligible who are maintaining their salary accounts with J&K Bank and/or will shift existing salary accounts to J&K Bank with at least one salary received in that account provided:
   1. These corporate houses have a minimum business of Rs 5.00 crore (Advances+ Deposits) with the branch/bank.
   2. Concerned Zonal offices will identify such corporate houses and permit the respective branches under their jurisdiction to grant personal consumption Loans to their regular employees.
   3. For branches operating outside J&K and Ladakh UTs, such loans shall be granted only to those regular employees of corporate customers who are permanent residents of periphery of the branch, otherwise such loans shall be additionally guaranteed by the employer.

• For permanent employees of Govt, PSUs, Institutions and Autonomous Bodies of Govt maintaining salary account with J&K Bank:
  • NIL
• For all Others:
  • 3 rd party Guarantee of Two persons having individual net worth of at least 200% of loan amount

• NIL

• Employees maintaining salary account with the bank: MCLR 3Y+3.00%
• Employees not maintaining salary account with the bank: MCLR 3Y+4.00%

Click here for rate of Interest

• The maximum repayment period shall be 120 months with the repayment commencing next month of disbursement.
• Important to note that repayment is to be fixed in such a way that loan shall be fully adjusted by or before employee retires from active service.

• NIL